At the Feldman Law Center, we have seen many homeowners wrestle with the difficult financial challenges facing everyone today. However, it is not just homeowners who are wrestling with difficult financial circumstances. Fortune 500 companies are declaring bankruptcy, banks are failing and even politicians are having a hard time selling their homes. One amazing occurrence that the entire financial industry is paying attention to is how many commercial foreclosures and bankruptcies there are. For example, in the first half of 2009, the bankruptcy and debt restructuring activity among major corporations increased 329 percent! For major corporations, loan modifications are not an option, and they must handle their debts much differently. The industries facing the highest number of bankruptcies include financial services, manufacturing and industrials, real estate and consumer retail. Other signs of financial trauma include United States Secretary of the Treasury Timothy Geithner having a hard time selling his home. It was also reported that 1,200 businesses in Rhode Island were threatened with foreclosure for not paying their taxes. That is not 100 businesses, but over 1,000 businesses could face foreclosure for allegedly not paying taxes. It seems like there is just a smaller amount of money than ever before, and everyone is trying to get what they can. State governments are fighting city governments, large corporations are fighting small businesses and the average homeowner is trying to keep their home out of the foreclosure process. As mentioned earlier, General Motors can’t just call a loan modification attorney and try to get a loan modification for all of their manufacturing plants. However, a homeowner can do just that, and save himself or herself the pain and embarrassment of a foreclosure. A mortgage loan modification is an agreement between the borrower and the lender to renegotiate the terms of a home mortgage loan. A home loan modification could change the interest rate, eliminate late fees and penalties, adjust the length of the loan and much more. Another major asset in the loan modification process is a loan modification attorney. A loan modification attorney can offer a specialized skill which is incredibly valuable to anyone looking for a great loan modification. A loan modification can provide excellent advice and counsel, as well as a particular skill in negotiating a home loan modification. Negotiating with lenders can be trick, and even in a difficult financial time like we are in now, banks and mortgages companies do not want to give up too much. Banks will take advantage of every situation they can, but with a California loan modification attorney on your side, you can have a highly trained professional representing you. If you are in a difficult financial circumstance, you can comfort yourself with the knowledge that you do not have the debt problems that a large corporation has and you have many more options as well. A loan modification attorney can help you get the best mortgage loan modification possible and help you stay in your home for the long term. Visit Feldman Law Center at http://www.feldmanlawcenter.com or call 800-588-0425. About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop or avoid foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425. Resources: Feldman Law Center: Profile – Business Exchange Press Release – The Feldman Law Center’s Code of Ethics and Practices Loan Modification – Feldman Law Center Feldman Law Center, Mission Viejo CA 92691 Feldman Law Center – The Cream Rises in Loan Modifications Feldman Law Center – Ten Tips for a Successful Home Loan Modification Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch Feldman Law Center – The New York Times gets it About Half Right Feldmanlawcenter.com – Feldman Law Center Company News Feldman Law Center Feldman Law Center Trulia Profile
Feldman Law Center – News by Feldman Law Center — The world of loan modifications is ever changing, and proof positive is the federal government’s ever-expanding role in influencing banks to offer loan modifications. It was recently reported that the government is frustrated with the progress of their federal loan modification program, and are trying to influence major banks to increase the number of loan modifications for homeowners. Of course, increasing the number of mortgage loan modifications means relaxing the standards which they are currently using to allow for loan modifications. Banks such as Bank of America, Citigroup, J.P. Morgan Chase and Wells Fargo were all summoned to a meeting in Washington, D.C. to discuss ways to improve the federal loan modification program, which was announced in February 2009. The Obama Administration put a great deal of effort and hope into the program, but it has not yet produced the kinds of results people thought it would. The administration’s goal is to complete 500,000 trial home loan modifications, although some analysts fear this is far too optimistic. The government has discussed ways to expand the program, including ways to simultaneously modify mortgages and home equity loans. When President Obama took office earlier this year, the number of foreclosures was sky rocketing due in large part to the subprime mortgage crisis and the adjustable rate mortgages (ARMs) which were offered so rampantly. As a result, millions of Americans were losing their homes and the government felt it needed to intervene. While the level of government involvement is new, loan modifications, are nothing new. California loan modification attorneys have been helping people stay in their homes for years, by helping them get home loan modifications without government interference. Millions of people throughout California have used California loan modification attorneys for their California home loan modifications because attorneys carry a special place in our current culture. When a loan modification attorney calls a bank or lender, they get a much quicker response because they have the law on their side. When people try to handle loan modifications on their own, they usually do not know what they are doing exactly and can make many mistakes as a result. The recent government programs have helped a few people, but since the banks all have huge bureaucracies and the federal government is one giant bureaucracy, people often get lost in process. Trying to call the federal loan modification program hotline can cause major headaches, and trying to get one huge bureaucracy to call another huge bureaucracy can take months and months. While it is encouraging that the federal government is trying to help the average homeowner, a loan modification attorney can get better results in less time. A loan modification can help adjust a number of mortgage terms to lower your monthly mortgage payment, thus allowing you an affordable payment you can pay consistently. California loan modification attorneys, such as those at the Feldman Law Center, have years of experience in helping people avoid foreclosure and stay in their homes. Our loan modification attorney team is highly skilled in helping California homeowners in avoiding foreclosure, avoiding bankruptcy, avoiding a short sale and avoiding the “just walk away” option. Visit us at http://www.feldmanlawcenter.com or call 800-588-0425. About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com. Resources:Feldman Law Center: Profile – Business Exchange Press Release – The Feldman Law Center’s Code of Ethics and Practices Loan Modification – Feldman Law Center Feldman Law Center, Mission Viejo CA 92691 Feldman Law Center – The Cream Rises in Loan Modifications Feldman Law Center – Ten Tips for a Successful Home Loan Modification Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch Feldman Law Center – The New York Times gets it About Half Right Feldmanlawcenter.com – Feldman Law Center Company News Feldman Law Center Feldman Law Center Trulia Profile
Feldman Law Center – News by Feldman Law Center — When facing the loss of their house, short sales are a method that some people choose to use in order to stop foreclosure from taking place. This tactic takes place when it seems likely that the bank will lose less money than it would with a foreclosure. By definition, a short sale means that the home is being sold for less than is owed on the mortgage. In evaluating the pros and cons of a short sale, some of the cons include: having to pay taxes, insurance, and mortgage payments on the property until the house is sold; competing with other bargain basement-priced homes in the area; getting a negative mark on your credit report; losing all of your investment in the property; and the possibility of still owing money towards the mortgage of a home that you no longer own or live in. After dealing with all of these problems associated with a short sale of your house, you still have to find a place for you and your family to live. While a short sale may be one of the options you have, we believe that there are better options out there for you. If you are facing a similar problem, you should consider a home loan modification. Many California companies offer loan modifications, but not all companies have the benefit of experienced, licensed attorneys. The Feldman Law Center specializes in California loan modifications, which can help you avoid a foreclosure, bankruptcy, or short sale on your home. An attorney can help secure the most advantageous deal for you, your family, and your property. Loan modifications are one of the best options to choose when facing the loss of your home. When comparing a home loan modification to a short sale, you could potentially avoid all of the cons of a short sale. You would stay in your home, keep the investment you’ve made in the home, and avoid the hassle and expense of completing a short sale and finding new accommodations. Most California loan modifications include lowering or fixing the interest rate of your mortgage, which means that monthly payments would be stabilized to an amount that is more attainable for you. It can also include reducing the principle balance that you owe or forgiving some of your mortgage payment defaults or missed payments on fees. A modification completed by one of our loan modification attorneys can include any or all of the above features. The main advantage of having an attorney complete the negotiations with a lender is that our attorneys can achieve better results than you can achieve alone, and can achieve them more quickly. The attorneys of The Feldman Law Center are experienced negotiators of home loan modifications. Our founder, Steven C. Feldman has been licensed by the State Bar of California for over 25 years. Free quotes and consultations are available for you to help you make the most of your current situation. Contact us today and let us help you with your home loan modification. Visit us at http://www.feldmanlawcenter.com or call 800-588-0425. About Feldman Law Center The Feldman Law Center is one of California’s top loan modification companies, providing excellent service to our clients and is completely focused on keeping everyone one of our clients in their homes. Our loan modification experts work tirelessly to provide every homeowner we work with the information, guidance and support they need to modify their mortgages and keep the homes they’ve worked to buy. About Loan Modifications If you’re unfamiliar with what a loan modification is, a loan modification is quite possibly the most effective tool you can utilize if you are behind on your mortgage, and are in the midst of a financial hardship, in order to save your home from interesting foreclosure. A loan modification is literally is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. The Feldman Law Center knows every law in California (and the country) that may be able to keep you in your home. Lenders would rather renegotiate the terms of your loan, and possibly even negotiate a principle reduction, than let the house go into foreclosure. With years of experience negotiating with lenders, as well as years of experience keeping people in their homes, the Feldman Law Center is one of the most experienced loan modification companies in all of California.
Feldman Law Center – News by Feldman Law Center — When people hear about loan modifications, they learn that one of the most common ways to lower your monthly mortgage payments is to adjust your interest rate. For example, if you have an adjustable rate mortgage, you could get your interest rate lowered for some period of time. You could also switch from an adjustable rate mortgage to a fixed rate mortgage, and this way not only would your mortgage payment be cheaper, but you could know what it will be over the long haul.
The challenge is, adjusting your interest rate, or setting your interest rate permanently may not be your best option. It may seem simple, but you could have other choices available to you that you are not aware of. One of the benefits of having a loan modification attorney working with you is that they may be aware of options you are not aware of.
For example, a loan modification does not necessarily have to involve an interest rate adjustment. Other loan modification options involve principal reduction and lengthening the term of your loan. If you get a principal reduction, it could mean that a loan for $500,000 could be lowered to $380,000, which would obviously have a huge impact on your monthly mortgage payments. You could also get the term lengthened, and go from a 30 year mortgage to a 40 year mortgage. An extra ten years would give you an extra 120 months to spread out your payments, which would also lower your monthly mortgage payments.
Interest rates were at an all time low in December, and stayed there for quite a while. However, they’ve gone up and down and recently have reached their highest point in quite a while. This sort of uncertainty is not beneficial to your current situation, especially if you’re facing foreclosure. The federal government has instituted many plans to lower interest rates, including using $600 billion to get more buyers into the market in hopes of stabilizing home prices and reviving the economy. However, the federal government’s effectiveness has gone up and down.
Loan modification attorneys can be a trusted ally in the battle to keep your home. A California loan modification attorney can give you the lowdown on your situation, as well as the many options available to you. While getting an altered interest rate may be to your benefit, it could also be that other options work better for your situation. Lowering your principal balance could be an option, and it would also be a great long term solution. Changing the length of the loan could also be a great long term option, and both of these would lower your monthly payments.
If you are facing a foreclosure, or if you are facing some other type of financial crisis, a loan modification could be your best option. These days, almost everyone is watching the economy, waiting for their own situation to worsen. Unfortunately, these are tough times, but a loan modification attorney could help out quite a bit.
Visit us at http://www.feldmanlawcenter.com/ or call 800-588-0425.
About Feldman Law Center
The Feldman Law Center is one of California’s top loan modification companies, providing excellent service to our clients and is completely focused on keeping everyone one of our clients in their homes. Our mortgage loan modification experts work tirelessly to provide every homeowner we work with the information, guidance and support they need to modify their mortgages and keep the homes they’ve worked to buy.
About Loan Modifications
If you’re unfamiliar with what a loan modification is, a home loan modification is quite possibly the most effective tool you can utilize if you are behind on your mortgage, and are in the midst of a financial hardship, in order to save your home from interesting foreclosure. A loan modification is literally is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. The Feldman Law Center knows every law in California (and the country) that may be able to keep you in your home. Lenders would rather renegotiate the terms of your loan, and possibly even negotiate a principle reduction, than let the house go into foreclosure.With years of experience negotiating with lenders, as well as years of experience keeping people in their homes, the Feldman Law Center is one of the most experienced loan modification firms in all of California.
Resources:
Feldman Law Center: Profile – Business Exchange
Feldman Law Center
Feldman Law Center – The New York Times gets it About Half Right
Feldmanlawcenter.com – Feldman Law Center Company News
Feldman Law Center – News by Feldman Law Center — President Obama’s historic presidency began in the midst of possibly the worst financial crisis since the Great Depression. The housing and real estate markets seemingly jumped off of a cliff, taking with it the financial stability of every other industry. Obama passed sweeping legislation to help homeowners make payments and deal with the financial crisis while staying in their homes. This plan in turn helps lenders who need homeowners to continue making their mortgage payments. A key part of this plan is the loan modification process, which now helps homeowners even more.
The federal government is relying heavily on loan modifications with the Helping Families Save Their Homes Act of 2009 and Making Home Affordable Program. Under these programs, current borrowers who are at imminent risk of default may qualify for a loan modification as long as the immanency of the default is tied to a specific event. By specific event, they mean a pending interest rate increase in your mortgage loan or a demonstrable change in economic situation such as your spouse losing his/her job or a severe medical condition.
Ultimately, the plan centers around the thought that struggling borrowers can stay in their homes as long as they make their monthly payments (regardless of the sharp decline in value). The plan has many backers, including billionaire Warrant Buffet. In a recent letter to shareholders, Buffet wrote “Commentary about the current housing crisis often ignores the crucial fact that more foreclosures do not occur because a house is worth less than its mortgage (so-called ‘upside-down’ loans). Rather, foreclosures take place because borrowers can’t pay the monthly payment that they agreed to pay.”
In the end, regardless of what the cause is for the foreclosures, homeowners are looking for ways to stay in their homes and everyone is hoping that Obama’s plan is the path toward that reality. For homeowners facing foreclosure, struggling to make payments, and overwhelmed by creditor and lender phone calls, having someone they can trust by their side could make a huge difference. During these difficult financial times, California loan modification attorneys are doing their best to be more than just an attorney; they are trying to be a confidante.
A California loan modification attorney can sit down with you and discuss your options and if any new options were opened up under the Obama plan. At the Feldman Law Center, our California loan modification attorney team is up to date with all federal and state laws governing loan modifications. FDIC loan modifications, California loan modifications and more all fall under our jurisdiction. We can help you find the program that’s right for you and your financial situation.
Millions of California residents are investigating California loan modifications as a possible solution to their financial troubles and as a way to avoid foreclosure. If you find yourself in this situation, you should contact a loan modification attorney and get as informed as you can about all the state and federal loan modification programs available to you.
About Feldman Law Center
The Feldman Law Center is one of California’s top loan modification companies, providing excellent service to our clients and is completely focused on keeping everyone one of our clients in their homes. Our loan modification experts work tirelessly to provide every homeowner we work with the information, guidance and support they need to modify their mortgages and keep the homes they’ve worked to buy.
About Loan Modifications
If you’re unfamiliar with what a loan modification is, a loan modification is quite possibly the most effective tool you can utilize if you are behind on your mortgage, and are in the midst of a financial hardship, in order to save your home from interesting foreclosure. A loan modification is literally is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. The Feldman Law Center knows every law in California (and the country) that may be able to keep you in your home. Lenders would rather renegotiate the terms of your loan, and possibly even negotiate a principle reduction, than let the house go into foreclosure.
With years of experience negotiating with lenders, as well as years of experience keeping people in their homes, the Feldman Law Center is one of the most experienced loan modification firms in all of California. Visit us at http://www.feldmanlawcenter.com or call 800-588-0425.
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